Date of Acceptance of the OTP* by the buyer to the seller’s offer to sell or.Meanwhile, the date of disposal of a property refers to any of the following: * Excludes an OTP that is subject to the execution or signing of the Sale and Purchase Agreement Date of disposal Date of Transfer where the first three points are not applicable.Date of Agreement for Lease (for new HDB flat) or.Date of Acceptance of the Option To Purchase (OTP)* or.In most instances, the date of purchase or acquisition of a property refers to any of the following: Date of purchase or acquisitionĪnother thing to note is the date of purchase or acquisition, as it will determine when the holding period will begin. Keep in mind that the SSD amount you have to pay is calculated off either the property’s selling price or market valuation, whichever is higher.Īlso, in the event that the sale comprises only a partial interest in the residential property (which means that you own a portion of the property only), the payable SSD will also be based on the selling price or market value of the partial interest, whichever is higher. When it was first introduced in February 2010 (plus all the changes that lead to the final revisions imposed on 11 March 2017), the SSD rates were as such: Source: IRAS SSD rates from 11 March 2017 onwards Source: IRAS Probably because of the extra fees they might incur with the SSD in place.Īs with other cooling measures, the SSD rates have undergone several revisions over the years. This practice is popular mostly in the U.S., but hasn’t quite caught on in Singapore. The government imposed the SSD as a cooling measure to curb the practice of ‘property flipping’, where property investors sell their properties within months of purchasing it. The three-year, minimum holding period requires you to hold on to your property for three years before selling it. SSD is basically the tax payable to IRAS if you sell a property within the first three years of purchasing it. In this article, we’ll be focusing on the last one: Seller’s Stamp Duty. There are three notable stamp duties in the lion city: the Buyer’s Stamp Duty (BSD), Additional Buyer’s Stamp Duty (ABSD), and Seller’s Stamp Duty (SSD). In essence, it is tax levied on documents relating to properties, stocks or shares, and is payable just like other taxes, to the Inland Revenue Authority of Singapore (IRAS). You might have already heard of the term ‘SSD’ before, but do you know exactly what it is and how it will affect you as a seller?īefore we get into SSD, let’s first define the term ‘stamp duty’ - a term commonly used for property transactions in Singapore. Planning on selling your condo? Before you do so, consider this one important factor that might affect your property transaction plans: Seller’s Stamp Duty (SSD).
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